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EFG Hermes Signs a $25 million Financing Deal with Transmar

EFG Hermes Finance Solutions, a subsidiary of EFG Hermes (HRHO), has signed a $25 million deal with Transmar (wholly owned by IACC Holding), for the purpose of financing the purchase of a marine transport vessel.

With a capacity of 2,100 TEUs (twenty-foot equivalent units) and a length of 204 meters, the Transmar Legacy will enhance the company’s services in the Red Sea, linking primarily between Egypt and Saudi Arabia.

The total value of the contract to purchase the ship is about $33 million.